The facts on mortgage insurance

For most Canadians, buying a home is the largest single investment they’ll ever make. To protect this significant asset for your family in the event of death, disability and critical illness, many lending institutions will offer you mortgage life, disability and critical illness insurance.

However, you should know the difference between mortgage insurance and personal insurance before you sign on the dotted line. Otherwise, you could find yourself with coverage that does more to protect the lending institution than you and your family.

Mortgage insurance versus personal insurance 

Here are some key facts to consider when comparing personally owned life, disability and critical illness insurance offered by insurance companies, with creditor mortgage life, disability and critical illness insurance offered by many lending institutions.

 

Get added value for your mortgage protection 

Make sure you’re informed of your options before you negotiate with your lending institution. We’re happy to answer any questions you may have about how you can get the most from your insurance and how personally owned life, disability and critical illness insurance may fit into your financial security plan.

Please contact us today: 

Nikki McNaughton, MBA Financial Security Advisor
124 Nature Park Way Winnipeg, MB R3P 0X7 204-770-3614
Fax: 204-489-1035 nikki.mcnaughton@f55f.com

Fabio Fiore Financial Security Advisor
124 Nature Park Way Winnipeg, MB R3P 0X7 204-990-7069
Fax: 204-489-1035 fabio.fiore@f55f.com

Download the pdf